Hong Kong is struggling to cope under a deluge of reports detailing potential fraud. Photo: Billy H.C. Kwok/Bloomberg

Six-month extension for Hong Kong’s Fraud and Money Laundering Intelligence Taskforce marks unit’s uncertain future

A full-scale review will take place in coming months as sources warn that if the task force’s potential is not realised, city risks losing big banks to other jurisdictions with more effective systems

Topic |   Financial regulation

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Hong Kong is struggling to cope under a deluge of reports detailing potential fraud. Photo: Billy H.C. Kwok/Bloomberg
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